Hyatt and Grupo Piñero Plan to Form Strategic Venture for Growth of Bahia Principe Hotels & Resorts Brand

Hyatt Hotels Corporation | October 28, 2024

Strategic joint venture will strengthen Hyatt’s position as a global leader in the all-inclusive space and boost the growth of Grupo Piñero's hotel division and its ability to reach new clients in key markets. CHICAGO, & PALMA DE MALLORCA, Spain--Hyatt Hotels Corporation today announced plans for affiliates of Hyatt and Grupo Piñero to enter into a long-term asset-light strategic joint venture, headquartered in Palma de Mallorca, Spain, which will manage Bahia Principe-branded hotels and resorts and own the Bahia Principe brand. The 50/50 joint venture is expected to expand Hyatt’s all-inclusive room portfolio by approximately ...